Williams-Sonoma (NYSE:WSM) Shares Gap Up to $288.85

Williams-Sonoma, Inc. (NYSE:WSM)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $288.85, but opened at $298.10. Williams-Sonoma shares last traded at $295.73, with a volume of 81,247 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WSM shares. StockNews.com downgraded Williams-Sonoma from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Bank of America lifted their price objective on Williams-Sonoma from $250.00 to $298.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Royal Bank of Canada lifted their price objective on Williams-Sonoma from $261.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. The Goldman Sachs Group upgraded Williams-Sonoma from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $154.00 to $263.00 in a report on Thursday, March 14th. Finally, TD Cowen boosted their price target on Williams-Sonoma from $260.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Williams-Sonoma currently has a consensus rating of “Hold” and a consensus price target of $248.06.

Williams-Sonoma Stock Performance

The company has a 50-day simple moving average of $265.33 and a two-hundred day simple moving average of $211.40. The firm has a market capitalization of $18.11 billion, a P/E ratio of 19.39, a PEG ratio of 2.42 and a beta of 1.70.

Williams-Sonoma (NYSE:WSM) last issued its quarterly earnings results on Wednesday, March 13th. The specialty retailer reported $5.44 EPS for the quarter, topping analysts’ consensus estimates of $5.06 by $0.38. Williams-Sonoma had a return on equity of 55.15% and a net margin of 12.25%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the firm posted $5.50 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts forecast that Williams-Sonoma, Inc. will post 15.37 earnings per share for the current fiscal year.

Williams-Sonoma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, April 19th will be given a $1.13 dividend. This is a boost from Williams-Sonoma’s previous quarterly dividend of $0.90. This represents a $4.52 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Thursday, April 18th. Williams-Sonoma’s payout ratio is currently 24.71%.

Insider Transactions at Williams-Sonoma

In other news, EVP Karalyn Smith sold 1,145 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $289.06, for a total value of $330,973.70. Following the sale, the executive vice president now directly owns 6,966 shares of the company’s stock, valued at approximately $2,013,591.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Karalyn Smith sold 1,145 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $289.06, for a total value of $330,973.70. Following the transaction, the executive vice president now directly owns 6,966 shares of the company’s stock, valued at approximately $2,013,591.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marta Benson sold 17,816 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $308.19, for a total value of $5,490,713.04. Following the completion of the transaction, the chief executive officer now directly owns 68,597 shares in the company, valued at $21,140,909.43. The disclosure for this sale can be found here. Insiders have sold a total of 41,145 shares of company stock valued at $12,182,219 in the last ninety days. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Williams-Sonoma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can grew its stake in shares of Williams-Sonoma by 7.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,227 shares of the specialty retailer’s stock valued at $6,915,000 after purchasing an additional 3,373 shares during the period. Aviva PLC increased its stake in shares of Williams-Sonoma by 9.7% in the 1st quarter. Aviva PLC now owns 14,762 shares of the specialty retailer’s stock worth $2,140,000 after purchasing an additional 1,300 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Williams-Sonoma by 0.3% in the 1st quarter. Baird Financial Group Inc. now owns 391,118 shares of the specialty retailer’s stock worth $56,712,000 after purchasing an additional 1,049 shares during the period. Brown Brothers Harriman & Co. lifted its position in Williams-Sonoma by 1,415.9% during the first quarter. Brown Brothers Harriman & Co. now owns 2,092 shares of the specialty retailer’s stock valued at $303,000 after purchasing an additional 1,954 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Williams-Sonoma during the first quarter valued at about $292,000. 99.29% of the stock is owned by institutional investors.

About Williams-Sonoma

Williams-Sonoma, Inc operates as an omni-channel specialty retailer of various products for home. It offers cooking, dining, and entertaining products, such as cookware, tools, electrics, cutlery, tabletop and bar, outdoor, furniture, and a library of cookbooks under the Williams Sonoma Home brand, as well as home furnishings and decorative accessories under the Williams Sonoma lifestyle brand; and furniture, bedding, lighting, rugs, table essentials, and decorative accessories under the Pottery Barn brand.